Home Selling Process

• REALTOR

  • Find a Real Estate professional you will be comfortable with telling them everything.
  • Make sure the professional understand why you are selling.
  • Find out their marketing and overall plan to sell your house.
  • Do they hire a professional photographer or take their own photos of your house.
  • What does the contract say if you are not happy and would rather work with a different Agent.

• OFFERS/ CONTRACT

  • Is there a Binder/ Earnest Money Deposit?
  • Loan approval length (45 is standard but 25-30 is preferred)
  • Closing date
  • Closing cost
  • 24 hours to respond but can be anything. If multiple offers, notify all Agents involved to make highest/ best offer.
  • Once offer is Accepted, signed and BOTH parties have a copy the offer then becomes a Contract.

• BUYER RESPONSIBILITIES

  • 5 Days to complete loan application with their lender.
  • 3 Days after loan application, appraisal fee must be paid to lender.
  • 10 Days to do any and all inspections (general, WDO and pool) including to verify Home Insurability.
  • 7 Additional Days for repair negotiations.

• WDO INSPECTION (Wood Destroying Organisms) (Paid by Buyer)

  • Required for all VA loans. Optional for other loan types.
  • VA will not approve a loan without a clear WDO Inspection Report

• APPRAISAL (Paid by Buyer)

  • Has to be paid within 3 days of loan application
  • If the home appraises for less than the agreed purchase price there are four options: 1.) Seller comes down on purchase price. 2.) Seller can pay the difference. 3.) Buyer can pay the difference. 4.) Both the Buyer and Seller split the difference.

• TITLE COMPANY/ ATTORNEY

  • Run a Lien check
  • Collect All monies due
  • HOA Fee Check
  • Calculate all Closing Costs
  • Closing typically takes place at the office of the Title Company/ Attorney.

• FINAL WALK THROUGH

  • Within 24 hours of closing
  • Checking to make sure the house is still in the same condition when contract was made, all appliances per contract are still in the home and all repairs are done.

• CLOSING

  • Title company will verify funds and distribute according to contracts.
  • Sign in BLUE ink.
  • Receive the house keys, mailbox keys, garage door openers and amenity access to your new home.

 CONGRATULATIONS!!